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Business insurance can save companies in 2021

Your crazy schedule may make you neglect getting business insurance, but putting off this decision can cost you in the long run. All seasoned entrepren…

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Business insurance can save companies in 2021

It’s not the first time you hear the saying that a business owner wears many hats. And if you have run the business for some time now, you probably agree with the expression because you’re in charge of many decisions and operations relevant for the business’ success. At some point, decision fatigue can sap your energy and make you feel unable to make one more decision. 

Your crazy schedule may make you neglect getting business insurance, but putting off this decision can cost you in the long run. All seasoned entrepreneurs know that business insurance is vital for all companies because it supports their health and longevity. Insurance is created to protect your business’ stability in challenging moments, but it can help in many other ways. Let’s have a look.  

Business insurance lowers financial risks

If it would be to compare the process of starting a business with something, what would it be? Most young entrepreneurs find it as dangerous as jumping off a cliff without knowing if their parachute opens or if the wind smashes them into a rock or helps them land smoothly on the ground. Even the cheapest business insurance can provide protection from the most common threats that can pose your company to danger. 

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You can purchase general liability to protect the company from a lawsuit that can deem its responsibility. If your employees make a mistake that causes building structural damage, the policy can help you pay for the repairs. 

Also Read: Health And Life Insurance Options For Single Parents

It allows you to care for your staff properly

While the manager keeps the business running, the workers contribute to the company’s vitality. They become part of your family, and you want them to be safe when they work on your premises. You can buy several types of insurance to protect them in case of accidents or health issues. It’s essential to provide them with coverage that helps them pay for their medical expenses while they recuperate. 

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It protects your assets

If a judgment is rendered against your business, insurance can pay costs and damages and provide you with financial protection. Supposing you run a sole proprietorship, your personal assets won’t be sacrificed to cover your company’s expenses. Get in touch with your insurance broker to determine what type of policy can help you protect your personal assets. 

Also Read: Need A Term Insurance That Covers All Bases? Know These 6 Features Now

It protects vital resources

Your company depends on inventory and resources to function, and it could come to a screeching halt if something would happen with the inventory. Besides theft, damage should also concern you because natural disasters can occur anytime, no matter your location. 

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If you buy insurance against property losses, you can have peace of mind because help is on its way no matter what problems you’re dealing with. You won’t lose years of savings when a hurricane hits and destroys your equipment and headquarters because the insurance coverage pays for the losses. Insurance can help you preserve your business’ future, despite any danger. 

Business insurance removes the uncertainty associated with running a business in 2021. 

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Manvendra Chaudhary, with over 5 years of professional experience as CEO of Unique News and Megalent Marketing, shares insights on life, business, and health for your success.

Net Worth

Pavel Durov Net Worth 2024: How Much is the Russian-born Emirati Entrepreneur Worth?

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Pavel Durov Net Worth 2024: How Much is the Russian-born Emirati Entrepreneur Worth?

Who is Pavel Durov?

Pavel Valeryevich Durov, born on October 10, 1984, is a Russian entrepreneur renowned for founding the social networking site VK and the Telegram Messenger. He is the younger sibling of Nikolai Durov. After stepping down as CEO of VK in 2014, Pavel, along with his brother, led a nomadic lifestyle in self-imposed exile, holding citizenship from Saint Kitts and Nevis. He is recognized for his contributions to the tech industry and his advocacy for user privacy.

Pavel Durov Career?

Durov’s journey in the tech industry began in 2006 when he co-founded VKontakte (VK), inspired by Facebook’s success. Under his leadership, VK flourished, reaching a valuation of $3 billion. However, conflicts with Russian authorities over user data led to his departure from VK in 2014. Subsequently, he focused on Telegram, emphasizing privacy and security, earning him acclaim as a tech visionary.

Pavel Durov’s Net Worth

As of 2024, Pavel Durov’s net worth is estimated to be an impressive $17 billion. His wealth stems from his pioneering work with Telegram and VK, propelling him into the upper echelons of the tech industry. Durov’s success serves as an inspiration for aspiring entrepreneurs worldwide.

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Pavel Durov Age?

Pavel Durov, born on October 10, 1984, is currently 39 years old. Despite his relatively young age, he has achieved remarkable success in the tech world, demonstrating his entrepreneurial prowess and innovative thinking.

Pavel Durov Family: Parents

Pavel Durov’s father, Valery Semenovich Durov, is a distinguished academic with a Doctorate in Philological Sciences. His grandfather, Semyon Petrovich Tulyakov, was a decorated World War II veteran. Durov’s family background reflects a tradition of intellectual and academic excellence.

Pavel Durov Height and Weight

As of 2024, Pavel Durov stands at 5 feet 10 inches (178 cm) tall and weighs approximately 163 pounds (74 kg). His physique, along with his intellect and entrepreneurial acumen, contributes to his charismatic presence and success in the business world.

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Also Read: Nasser Al-Khelaifi Net Worth 2024: How Much is the President of Paris Saint-Germain Worth?

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Business

Wow! Momo secures Rs 70 crore funding from Z3 Partners for expansion

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Food chain Wow! Momo raises Rs 70 crore from Z3Partners

Quick-service restaurant chain Wow! Momo has secured Rs 70 crores from Z3Partners in an extension to their latest funding round following Rs 350 crores from Khazanah Nasional Berhad, the sovereign wealth fund of Malaysia. Wow! Momo operates three brands – Wow! Momo, Wow! China, and Wow! Chicken.

CEO Sagar Daryani expressed gratitude stating, “We have been consistent and resilient…this round of investors have shown in us fortifies our faith and further motivates us to be change-makers.” Launched in 2008, Wow! Momo has 600 outlets in 38 cities and ventured into the FMCG sector along with their QSR vertical.

Managing Partner at Z3Partners, Rishi Maheshwari, praised Wow! Momo saying, “Wow! Momo is a reflection of the vibrant entrepreneurial landscape in the country…building a high-quality food business at scale, fuelled by superior execution expertise.” This funding round totals over Rs 480 crores, with Rs 270 crores via primary infusion and Rs 210 crores through a secondary purchase from early-stage investors.

Wow! Momo’s growth trajectory has been impressive with a strong presence in multiple cities. This latest funding will further solidify its position in the market and support its expansion plans. Sagar Daryani and the team at Wow! Momo are optimistic about the future and grateful for the support shown by investors.

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Business

UP now boasts the largest number of Geographical Indication-tagged items in the country.

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UP now has the most GI-tagged items in the country

Varanasi, April 17 (IANS) – Six more products from Uttar Pradesh have been granted the Geographical Indication (GI) tag, including the famous ‘Tirangi Barfi’ of Kashi, a tricoloured sweet symbolic of the Quit India Movement. The GI Registry awarded the certification on Tuesday, bringing the total number of GI-tagged products in Uttar Pradesh to 75, making it the state with the most GI products in India.

The newly certified products in Uttar Pradesh also include Banaras Metal Casting Craft, Lakhimpur Kheri Tharu Embroidery, Bareilly Cane and Bamboo Craft, Bareilly Zardozi Craft, and Pilkhuwa Hand Block Print Textile. According to GI expert Padma Shri Rajnikant, “Two renowned products from Varanasi, the Tirangi Barfi and Metal Casting Craft, were granted GI certification on Tuesday.” Rajnikant, the general secretary of the Human Welfare Association, has been instrumental in securing GI tags for 148 producers across 14 states and Union Territories.

Rajnikant highlighted the crucial role played by the National Bank for Agriculture and Rural Development (NABARD) Uttar Pradesh, Lucknow office in supporting these six GI tags. He emphasized that this achievement strengthens Uttar Pradesh’s position as the leading state in GI products. In 2008-09, the state had only one GI product, the ‘Allahabad Surkha Amrood.’ With 75 GI products now, Uttar Pradesh continues to lead in this area.

The GI tags not only recognize the unique identity and qualities of these products but also provide protection against imitation and unauthorized use. These certifications also help in promoting traditional craftsmanship and skills, thereby boosting the local economy and preserving the cultural heritage of the region. Tamil Nadu follows Uttar Pradesh with 58 GI products, reflecting the rich cultural diversity and heritage of various states in India.

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